Ind. Code § 5-28-30-16
Power to allow subordination
Indiana · Indiana Code Title 5 — State and Local Administration · Status: effective
Cite this
- Citation
- Ind. Code § 5-28-30-16, Power to allow subordination, Indiana, version 1 as recorded 2026-09-28, yourstate.us, https://yourstate.us/provision/1609855
- Permanent ID
ys:prov:1609855@1- SHA-256
becf1febbaa82d9d64643581277fcef2d1dd2e3d85fdef9eac24659e88a47130
The hash is SHA-256 of this version's text, with every run of whitespace collapsed to a single space and the ends trimmed. The ID always leads back here, and checking it says whether the text you cited is still the current version.
Full text
Sec. 16. To further the purposes of this chapter, and subject to this chapter, the corporation may also use any part of the guaranty fund to guarantee any bonds issued by the Indiana finance authority under IC 5-1.2 or by any authorized issuer under IC 36-7-12. With regard to direct obligations of the authority that are guaranteed by the corporation, the corporation may permit a subordination of any:
(1) security agreement;
(2) mortgage;
(3) combination of security agreements and mortgages; or
(4) other appropriate documents securing the direct obligations;
if the corporation in its discretion determines that the subordination is reasonably necessary to accomplish the objectives of the industrial development project undertaken by the authority.